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GE Tries a New Tactic to Get its Stock Upgraded

A GE Aviation military engine unit worker inspecting one of its engines.

An upgrade for GE by J.P. Morgan doesn’t look all that likely, at least judging by banter from the company’s fourth quarter results analyst call.

The exchange was sparked by J.P. Morgan analyst Steve Tusa after saying farewell to GE’s head of investor relations Trevor Schauenberg, who is leaving his post after more than five years to run a business at GE Capital.

“Thanks to Trevor of all the years of help and best of luck in his – I’m choking back the tears here – best of luck in his new role,” Mr. Tusa said.

GE’s fourth quarter earnings rose by 4.8%, boosted by growth in its energy and aviation businesses and lots of help from its profitable financing businesses. But the company missed its target for improving its margins, and GE’s stock fell 2.5% to $26.51 in morning trade.

For the record, JPM has a neutral rating on GE with a target price of $27.34 a share. And his initial note on GE’s earnings before the call didn’t suggest any change, calling the results in line with his expectations.